Thailand continues its impressive streak of innovations, becoming one of the first countries in Asia to legalize cryptocurrency. This step opens up unique opportunities for investors, especially in the real estate sector. Now, not only can transactions be conducted using cryptocurrency in the country, but property can also be purchased with it — an additional incentive for many interested in investing in the Thai real estate market.

Benefits of paying for real estate with cryptocurrency

1. Paying for real estate with cryptocurrency significantly streamlines the transaction process. Thanks to blockchain technology, transactions can be executed instantly, ensuring a fast and secure deal.
2. Cryptocurrency transactions are not bound by geographical borders or banking systems, making them particularly attractive to foreign investors. This opens doors for international real estate transactions in Thailand without the need for intermediaries.
3. Using cryptocurrency for real estate payments helps reduce the risks of financial fraud and unauthorized access to data, thanks to the application of secure blockchain technologies.
4. Now in Thailand, various types of properties can be purchased using cryptocurrency, from luxury coastal villas to modern city apartments. It is important to note that this new opportunity opens doors for investors who may have faced limitations when using traditional payment methods.

Why It’s Advantageous to Buy Real Estate with Cryptocurrency

Cryptocurrency and blockchain technology are entirely legal in Thailand. The real estate market is characterized by stability. According to local bank statistics, property prices have increased by 48.9% over the past decade; annual price growth averages 4-5%. Even during the pandemic, this figure was 5.01%. When purchasing property under a leasehold, there is no need to fill out declarations. No need to prove the source of funds for investment in Thailand. The local currency in the country is stable. Property purchases can be made remotely. Property tax in Thailand is characterized by a low level. Real estate transactions are conducted confidentially, without being tracked by government authorities. Transactions are processed quickly. The transaction fee is low.

Step-by-Step Process of Buying Property with Crypto

• Property selection and negotiation. At this stage, the client’s needs are analyzed, and the most suitable property options are selected according to their requirements and budget. Then, the terms are negotiated with the seller or developer.
• For property reservation, a photo of the first page of the passport is required. This stage ensures the reservation of the property until the deposit is made.
• The deposit is made in cryptocurrency to the developer’s electronic wallet as payment for reserving the property. The developer then sends the client a confirmation document.
• Signing the contract and making the first/main payment. The contract and invoice are delivered to the client by courier for signing. Payment is also made in cryptocurrency.
• Completion of the transaction. After full payment is made, the client receives ownership rights and registration of the property in the Land Department

Not all real estate agencies in Thailand have the capability to conduct transactions using cryptocurrency. For detailed information and assistance in this matter, you can contact https://islandkpg.com/en/, where the staff speaks Russian, enabling you to avoid language barriers.

Currently, in Thailand, cryptocurrency (USDT or BTC) is accepted as payment for only three real estate properties, but their number is constantly increasing with each passing day.